The Government has stepped up its war on corporate Britain by snubbing a call from the CBI and 41 other trade associations to announce a business rates overhaul at the upcoming Budget.
Government plans for a major overhaul of the controversial levy have been "thrown into the long grass" and only smaller scale tweaks will be unveiled by Rishi Sunak, the Chancellor, later this month, The Telegraph has learned. after it was delayed beyond the earlier Budget in March this year .
"Reforms will have real-world ramifications for investment in local communities, in creating the jobs of the future, and to help meet our net zero ambitions," bosses said. 'They will unlock business investment to boost the UK's international competitiveness."
Small-scale changes are being looked at, it is understood, but a Government source told The Telegraph : "I think the expectations are quite high and the reality is we just haven't had enough time to look at it. It's obviously something that needs looking at. Rishi is keen to do a proper reform of the whole system." "the problem of high street versus online" retailers , the source added.
A government spokesperson said: "We've provided extensive business rates relief worth £16 billion to support businesses and the high street throughout the pandemic, with support continuing until March next year.
- Senate Takes on Business Tax Reform; Treasury to Have “Intense Comment Period” for Inversion Regulations
- Make small shops exempt from business rates to save the high street, says senior Tory MP Geoffrey Clifton-Brown
- Business Rates Revaluation in the UK and 1954 Act Statutory Compensation
- Senate Tax Proposal Includes Comprehensive Business Tax Reform Measures
- Is a Business Tax Reform Game Plan Beginning to Take Shape?
- Section 409A Considerations in Light of Tax Rate Reform
- Chairman Brady Introduces Long-Awaited Bill Including Comprehensive Business Tax Reform Provisions
- Philip Hammond considers £1.4billion tax cut for 235,00 small businesses in a bid to save the High Street
- U.S. bank executives see delayed boost from tax overhaul
- Trump push for China trade reform draws wide support at home, abroad
- Shelved Aramco IPO hits at heart of Saudi prince's reforms
- What we can learn from one mayor's pension reforms
- Global shipping rates slump in latest sign of economic slowdown
- Chance of a U.S. recession up, number of Fed rate hikes down
- Business groups view legislative session as 'mixed bag'
- Brexit Party Campaign Launch: ‘Stinking, Rotten Borough of Westminster’ Needs Wholesale Constitutional Reform
- Vietnam rice prices slip on weak demand; India rates steady
- The Yorkshire Post says: Home truths over social care crisis – policy delay is unacceptable
- Potential for Tax Reform in 2017: Insight from Proposals of President-Elect Trump and Congressional Republicans
- Higher ADB rates in middle-income bracket
Rishi Sunak delays business rates reform have 444 words, post on www.telegraph.co.uk at October 14, 2021. This is cached page on Europe Breaking News. If you want remove this page, please contact us.